SECURITIES AND EXCHANGE COMMISSION
SEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Dec 29, 2025

2. SEC Identification Number

CS200811530

3. BIR Tax Identification No.

007-085-191

4. Exact name of issuer as specified in its charter

NICKEL ASIA CORPORATION

5. Province, country or other jurisdiction of incorporation

Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

28th Floor NAC Tower, 32nd Street, Bonifacio Global City, Taguig City Postal Code 1634

8. Issuer's telephone number, including area code

0277777622

9. Former name or former address, if changed since last report

Not applicable.

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common	13,931,125,094

11. Indicate the item numbers reported herein

Item 9.

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Nickel Asia CorporationNIKL

PSE Disclosure Form 4-1 - Acquisition or Disposition of Assets References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Sale of aircraft of Nickel Asia Corporation’s wholly owned subsidiary, Coral Pearl Developments Limited
Background/Description of the Disclosure
On December 23, 2025, Nickel Asia Corporation (the “Company”) disclosed with the Philippine Stock Exchange and the Securities and Exchange Commission that its wholly owned subsidiary, Coral Pearl Developments Limited (“CPDL”), a British Virgin Islands company, has sold the aircraft used in its leasing business. This constitutes a sale of a substantial part of the assets of CPDL.

Date of Approval by Board of Directors	Jul 17, 2025

Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction

The cost of maintenance and all other costs and expenses arising from the operation of the aircraft are higher than the rental income generated from the lease of the aircraft. The sale of the aircraft based on its present market value, which is higher than its book value, is expected to improve CPDL’s financial position and, consequently, lessen the need for the Company to provide financial support to CPDL to carry on its day-to-day activities.

Details of the acquisition or disposition

Date	Dec 23, 2025

Description of the Transaction
Disposition of aircraft used by CPDL in its leasing business
Manner
Sale
Description of the assets involved
2019 Cessna 525C (Citation CJ4) aircraft

Terms and conditions of the transaction

Nature and amount of consideration given or received
Seven Million Five Hundred Thousand United States Dollars (USD 7,500,000.00)
Principle followed in determining the amount of consideration
The parties agreed on the selling price as a mutually acceptable consideration with due regard to the present market value.
Terms of payment
Selling price of Seven Million Five Hundred Thousand United States Dollars (USD 7,500,000.00), less applicable fees, to be released by escrow agent to CPDL upon confirmation that the FAA Civil Aviation Registry in Oklahoma City, Oklahoma has received the De-Registration Confirmation.
Conditions precedent to closing of the transaction, if any
Delivery by the Civil Aviation Authority of the Philippines (“CAAP”) to the United States Federal Aviation Administration of the Department of Transportation (“FAA”) of a confirmation of the de-registration of the aircraft from the CAAP (the “De-Registration Confirmation”).
Any other salient terms
None.

Identity of the person(s) from whom the assets were acquired or to whom they were sold

Name	Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates
Kahua Capital, LLC	None

Effect(s) on the business, financial condition and operations of the Issuer, if any
With the expected improvement in CPDL’s financial position arising from the sale of the aircraft based on its present market value, the need for the Company to continuously provide financial support to CPDL to carry on its day-to-day activities by granting loans or advances to CPDL is considerably lessened.
Other Relevant Information
The Board of Directors of CPDL approved to sell the aircraft on July 17, 2025.

If the transaction being reported is an acquisition, kindly submit the following additional information:

Source(s) of funds
N/A
If any asset so acquired by the issuer or its subsidiaries constituted plant, equipment or other physical property, state the nature of the business in which the assets were used by the persons from whom acquired and whether the issuer intends to continue such use or intends to devote the assets to other purposes, indicating such other purposes
N/A